Investors Buy High Volume of Futu (NASDAQ:FUTU) Call Options

Futu Holdings Limited (NASDAQ:FUTU – Get a Free Report ) was the target of unusually high options trading activity on Thursday. Investors purchased 13,534 call options on the company. This is an increase of about 73% compared to the typical daily volume of 7,810 call options.

The Wall Street analyst weighs in

A number of analysts have recently commented on FUTU shares. Bank of America upped their target price on shares of Futu from $77.60 to $80.20 and gave the company a “buy” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised shares of Futu from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $62.00 to $92.00 in a research note on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Moderate Buy” and a consensus price target of $71.57, according to MarketBeat.

Check out our latest research report on FUTU

Hedge funds weigh on Futu

Several hedge funds have recently added to or reduced their stakes in FUTU. UniSuper Management Pty Ltd grew its holdings in Futu by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $43,000 after acquiring an additional 400 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Futu in the second quarter valued at approximately $50,000. Barometer Capital Management Inc. purchased a new position in Futu in the 4th quarter valued at about $120,000. SG Americas Securities LLC purchased a new position in Futu in the second quarter valued at about $123,000. Finally, Atlas Capital Advisors LLC purchased a new stake in Futu in the second quarter worth about $142,000.

Futu Stock Performance

Shares of FUTU stock traded up $7.76 on Thursday, reaching $67.27. The stock had a trading volume of 2,317,153 shares, compared to its average volume of 1,424,722. Futu has a 1 year low of $43.61 and a 1 year high of $81.86. The company has a 50-day simple moving average of $61.01 and a 200-day simple moving average of $63.82. The stock has a market cap of $9.27 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 0.92 and a beta of 0.72.

Futu (NASDAQ:FUTU – Get Your Free Report ) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The firm had revenue of $400.73 million for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. On average, equities research analysts anticipate that Futu will post 4.51 earnings per share for the current fiscal year.

About Futu

(Get a free report)

Futu Holdings Limited provides digitized securities brokerage and wealth management product distribution services in Hong Kong and internationally. It offers online financial services including securities brokerage and derivatives trading, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.

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